(Note: if you are having trouble viewing the graphs just click here…it’s worth it)

Every now and then I like to take a look at market trends in the area.  In this case, I’m going to look at Beltsville, MD in Prince George’s County and the 20904 zip code in Silver Spring, MD located in Montgomery County. These are two contiguous areas with the biggest point of difference being the County.  There is this long held notion that Montgomery County is the “better” County.

There are a number of reasons for this:

• the idea that the school system is more desirable
• general upkeep of infrastructure (roads, etc.) is more frequent
• access to more METRO stops

However, like everywhere else, it really depends on where in the County you’re living. There are many school districts in Prince George’s that have both an excellent reputation and high desirability. Yet, there is still this idea in lots of people’s minds that one County is a better place to live than the other.

So.

Let’s take a look at what two areas that are generally indistinguishable from one another except for the County they’re in look like for the housing market.

Median Home Price

This is the price at which there are equal numbers of homes being sold above the median price and below the median price.  This price, in and of itself, is pretty meaningless but it is useful to show the home pricing trend.

Beltsville, MD

Silver Spring, MD (20904)

Days on Market

This number shows how long a home stays on the market before it receives an offer acceptable to the seller. There may still be a long waiting period between the offer’s acceptance by both buyer and seller and the time of the actual settlement.  However, this is a good indicator of how the market is trending. Short Days on Market indicate that pricing has become more attractive. Maybe the bottom has been reached.

Beltsville, MD

Silver Spring, MD (20904)

Average Sold to Original List Price Ratio

This number shows how close to the original list price the home is actually selling. Again, this indicates if home prices have hit their bottom. The closer the home sells to its original list price means that Mr. Market feels that it’s a true value and not some inflated fantasy number.

Beltsville, MD

Silver Spring, MD (20904)

Interested in knowing the real estate market trends for your neighborhood?
Send me an e-mail or call me at 240-417-9100 and I’ll send them your way.